Eldorado Gold Corporation has announced that its Skouries Project in Greece has reached 97% completion and is on track to commence production of copper-gold concentrate in the third quarter of 2026, with full commercial production expected by the fourth quarter. The project is anticipated to contribute significantly to the company’s growth, with projections for 2026 indicating gold production between 60,000 to 100,000 ounces and copper production of 20 to 40 million pounds. This development is part of Eldorado’s broader strategy to enhance its operational portfolio and cash flow generation.
In its second quarter financial results for 2026, Eldorado reported gold production of 104,616 ounces and revenues of $487.5 million, reflecting a favourable gold price environment despite a decrease in production compared to the previous year. The company’s total cash costs per ounce sold increased to $1,432, influenced by higher production costs and lower sales volumes. Eldorado’s net earnings attributable to shareholders rose to $172.8 million, or $0.69 per share, signalling a strong performance amid ongoing investments in growth projects.
The Skouries Project, part of the Kassandra Mines Complex, is expected to play a pivotal role in Eldorado’s future operations, with a feasibility study indicating a 20-year mine life and average annual production of 140,000 ounces of gold and 67 million pounds of copper. The company has secured concentrate sales agreements for the expected production volumes in 2026 and is actively working on finalising additional agreements to cover production through 2029. With significant capital investments planned, Eldorado is well-positioned for a successful ramp-up to commercial production, supported by a robust operational framework and strategic partnerships.
